Gogo (NASDAQ:GOGO) Shares Gap Up – Should You Buy?

Gogo Inc. (NASDAQ:GOGO)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $6.55, but opened at $7.73. Gogo shares last traded at $8.41, with a volume of 1,463,616 shares changing hands.

Analyst Ratings Changes

A number of analysts have weighed in on GOGO shares. Morgan Stanley cut their target price on shares of Gogo from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 3rd. Roth Mkm restated a “buy” rating and set a $15.50 price objective on shares of Gogo in a research report on Tuesday, September 17th. Finally, JPMorgan Chase & Co. cut their price target on Gogo from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th.

Gogo Price Performance

The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 15.73 and a beta of 1.10. The company has a current ratio of 3.95, a quick ratio of 3.16 and a debt-to-equity ratio of 11.25. The business’s 50-day simple moving average is $7.11 and its two-hundred day simple moving average is $8.51.

Gogo (NASDAQ:GOGO) last announced its earnings results on Wednesday, August 7th. The technology company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The firm had revenue of $102.10 million for the quarter, compared to the consensus estimate of $99.02 million. Gogo had a return on equity of 145.01% and a net margin of 16.59%. Gogo’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.20 EPS. As a group, research analysts expect that Gogo Inc. will post 0.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. nVerses Capital LLC acquired a new stake in Gogo during the third quarter worth approximately $34,000. Brighton Jones LLC bought a new position in shares of Gogo during the 3rd quarter worth approximately $72,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Gogo during the 2nd quarter worth approximately $107,000. AQR Capital Management LLC bought a new stake in shares of Gogo in the 2nd quarter valued at $108,000. Finally, SG Americas Securities LLC bought a new position in Gogo during the second quarter worth $109,000. 69.60% of the stock is owned by institutional investors.

Gogo Company Profile

Gogo Inc, together with its subsidiaries, provides broadband connectivity services to the aviation industry in the United States and internationally. The company's product platform includes networks, antennas, and airborne equipment and software. It offers in-flight systems; in-flight services; aviation partner support; and engineering, design, and development services, as well as production operations functions.